Spot pricing for US domestic J55 electric resistance welded (ERW) oil country tubular goods (OCTG) casing has continued to remain neutral since last week, with spot prices still in the $63.00-$65.00 cwt. ($1,389-$1,430/mt or $1,260-$1,280/nt) range, ex-Midwest mill. Activity continues to be reported as steady yet unexciting, according to one Midwest service center, citing a strong belief that domestic pricing will likely hold steady for the next several weeks in light of the recent downtick seen earlier this month.
As for imports, Taiwanese and Korean ERW OCTG casing offer prices to the US have not moved over the past week and continue to be reported between $47.00-$49.00 cwt. ($1,036-$1,080/mt or $940-$980/nt) DDP loaded truck in US Gulf ports. Deals still persist for those wishing to deal in volume, but those types of transactions are few and far between at best, as most buyers aren't willing to take possession of a heavy import order at the moment, as most customers report continued concern with long lead times and are reluctant to book shipments so far in advance.